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PIA Press Release
2006/10/26

Gov. Piņol to lead North Cotabato planholders in filing claims vs CAP

Koronadal, South Cotabato (26 October) -- North Cotabato Governor Manny F. Piņol will lead CAP plan holders in the province in pursuing their claims from the financially distressed College Assurance Plan Philippines, Inc.

"Many of these plan holders are ordinary people who invested their hard-earned money in CAP to secure their children's college education, people who could barely pay for their children's education and are now in a quandary because the company has gone bankrupt," Gov. Piņol said during his weekly radio program, Pareng Gob.

"They have all the right to file claims against CAP, and the provincial government will help them get what is rightfully theirs," he said.

Governor Piņol has tasked the Provincial Legal Office under Atty. Russel Abonado to look into the possible legal moves that the provincial government can take in helping North Cotabato CAP plan holders file claims against the company.

"We will hire legal luminaries from Davao City, if needed, to assist us in this task," Gov. Piņol said.

Governor Piņol has scheduled a conference with all CAP plan holders in the province who are interested in filing claims against the company on November 8 at 9 o'clock in the morning at the DXND mini-auditorium in Kidapawan City.

Provincial government employees who enrolled their children in CAP but have been deprived of the benefits stipulated in their plan were among the first to laud the governor's move and expressed interest in taking part in any action to recover their contributions.

Other government and private employees who also invested in CAP are expected to join the throng of CAP plan holders who will file claims against the company. (ID-GO North Cotabato/PIA 12) [top]

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